Dangote Cement, FBN Holdings, Others Drive Equity Market Gain by N53bn
The Nigerian equity market staged a rebound on Thursday, gaining N53 billion in market capitalization after the previous session's decline.
Investor interest in major stocks, including Dangote Cement, FBN Holdings, Guaranty Trust Holding Company (GTCO), and Fidelity Bank, among others, contributed to the market’s recovery.
The market capitalization increased by 0.09%, rising from N62.257 trillion at the opening to N62.310 trillion at the close of trading. Similarly, the All-Share Index (ASI) advanced by 87.11 points, or 0.09%, to close at 102,183.06, compared to the 102,095.95 points recorded on Wednesday. This brought the Year-To-Date (YTD) return to 0.72%.
Despite the overall market gains, the market breadth closed negative, with 35 gainers compared to 26 losers.
On the losers’ chart, Livestock Feeds led with a 60k loss, closing at N5.40 per share. Eunisell followed, dropping by N1.73 to close at N15.63 per share. Neimeth International Pharmaceuticals and Regal Insurance shed 7k each to close at N3.12 and 68k per share, respectively, while Honeywell Flour fell by 94k to close at N9.21 per share.
Conversely, North Nigerian Flour Mills topped the gainers’ table with a N4.95 increase to close at N54.45 per share. Dangote Sugar followed, adding N3.65 to close at N40.50 per share. Other top gainers included John Holt, which gained 83k to close at N9.30; The Initiate Plc, which added 25k to close at N2.80; and Omatek, which rose by 8k to close at 90k per share.
Trading activity also witnessed an upswing, with the total value of transactions increasing by 76.82%. A total of 472.16 million shares valued at N16.70 billion were traded in 12,336 deals, compared to 435.54 million shares worth N9.44 billion exchanged in 12,098 deals during the previous session.
GTCO led the activity chart in both volume and value, trading 65.05 million shares worth N3.77 billion.
By Rukayat Adeyemi
Culled from NAN
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